Due to record increases in cocoa prices, Western confectionery manufacturers are producing desserts that contain less or none of this expensive ingredient. This was reported by Bloomberg.
British consumers were surprised last year when Mars reduced the weight of its popular Galaxy chocolate bar by 10 grams without making any cuts to the price. However, cocoa traders were waiting for such a move.
Cocoa prices have reached record levels and market participants do not expect a decline anytime soon. Structural problems as well as drought and diseases in West Africa, the world’s largest producer, caused prices to rise.
With price increases limited, companies are reducing packaging, using automation to cut costs and promoting products with less cocoa or other ingredients, said Brian McKeon, senior vice president of the National Confectioners Association.
Before that, he was at the Confectioners’ Guild. explainedWhat will happen to chocolate prices in Russia?
Previously Russia to create New supplier of cocoa beans.